Floating Rate Correlations

Mutual Funds . USA . 
Fund . Floating Rate Fund
LFRAX Fund  USD 8.01  0.01  0.12%   
The current 90-days correlation between Floating Rate and California High Yield Municipal is 0.5 (i.e., Very weak diversification). The correlation of Floating Rate is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Floating Rate Correlation With Market

Very poor diversification

The correlation between Floating Rate Fund and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Floating Rate Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Floating Rate Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Floating Mutual Fund

  0.83LFSFX Lord Abbett FocusedPairCorr
  1.0LFRRX Lord Abbett InvPairCorr
  0.99LFROX Lord Abbett FloatingPairCorr
  0.83LFVAX Lord Abbett FocusedPairCorr
  0.89LGRFX Lord Abbett InvestmentPairCorr
  0.87LGRUX Lord Abbett InvestmentPairCorr
  0.9LHYOX Lord Abbett HighPairCorr
  0.73LICFX Lord Abbett InternationalPairCorr
  0.79LIGFX Lord Abbett DiversifiedPairCorr
  0.7LIFAX Lord Abbett InflationPairCorr
  0.64LIFCX Lord Abbett InflationPairCorr
  0.62LIFQX Lord Abbett InflationPairCorr
  0.71LIFVX Lord Abbett InflationPairCorr
  0.7LINTX L Abbett InternationalPairCorr
  0.73LIRRX Lord Abbett InternationalPairCorr
  0.78LIXVX Lord Abbett MultiPairCorr
  0.83LLDYX Lord Abbett ShortPairCorr
  0.85GILAX Lord Abbett FundamentalPairCorr
  0.81LMCTX Lord Abbett MidPairCorr
  0.81LMCRX Lord Abbett MidPairCorr
  0.79BFLAX Lord Abbett BalancedPairCorr
  0.79LMIYX Lord Abbett MicroPairCorr
  0.83LMVOX Lord Abbett FocusedPairCorr
  0.83LMVYX Lord Abbett MicroPairCorr
  0.79LOBFX Lord Abbett MultiPairCorr
  0.63LOISX Lord Abbett IntermediatePairCorr
  0.77LOMGX Lord Abbett GrowthPairCorr
  0.7LOLDX Lord Abbett ShortPairCorr
  0.81LQFLX Lord Abbett FocusedPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Floating Mutual Fund performing well and Floating Rate Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Floating Rate's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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